London close: Rally continues as Greek fears ease
30th Jun 2011 16:38
The rally continued Thursday, helping the top share index move back towards the 6,000 point mark it had been flitting around from the beginning of the year until the escalation of the Greek debt crisis. The Greek parliament's second vote on the proposed new austerity measures provided further chee
Read moreLondon midday: Lloyds leads the charge
30th Jun 2011 12:02
The top share index is in positive territory again, with Lloyds Banking Group leading the charge after revealing the details of its strategic review. Lloyds, the part-nationalised high street behemoth, is aiming to shed a further 15,000 jobs and cut its presence in foreign markets by half. The ann
Read moreLondon open: Lloyds leads the rise after review
30th Jun 2011 08:37
Lloyds Banking Group was the high riser of the morning after revealing the details of its strategic review. The Footsie opened up near the 5,900 mark, a level not seen since the start of the month. Lloyds, the part-nationalised high street behemoth, is aiming to shed a further 15,000 jobs and cut i
Read morePetrofac JV wins Sharjah rig gig
29th Jun 2011 14:15
BP subsidiary, BP Iraq, has chosen Petrofac and its joint venture partner, China Petroleum Engineering & Construction Corporation (CPECC), to handle inspection, maintenance and repair duties at the Rumaila oil field in Southern Iraq. The oilfield services giant said the one-year contract is worth
Read moreTransocean points finger at BP for oil spill
22nd Jun 2011 13:55
Transocean, in what looks like another round of blame game, has pointed the finger at BP for the Deepwater Horizon rig explosion and the resultant offshore oil spill, the most disastrous in history. Transocean, the owner of the rig, said the Macondo incident was the result of a series of well desig
Read moreLondon close: Big gains as updates impress
21st Jun 2011 16:41
Hopes that the Greek debt crisis could be resolved coupled with some strong company statements had the top share index posting big gains by the close of play. Cruise operator Carnival's shares steamed ahead in the afternoon, after the company revealed that second quarter revenues grew by $353m in t
Read moreLondon midday: Company updates boost FTSE 100
21st Jun 2011 12:04
The top share index is buoyant amid hopes the Greek debt crisis may be nearing a resolution, while some well-received company statements are underpinning the gains. Strong sales growth at Costa coffee shops helped hotel and restaurant group Whitbread to offset subdued activity in its restaurant div
Read moreLondon open: Whitbread pulls Footsie above 5,700
21st Jun 2011 08:31
The Footsie opened moderately higher, recovering after yesterday's losses. The FTSE 100 is 31 points up at 5,724 in early trading, being helped by strong gains from Whitbread and the mining sector. Strong sales growth at Costa coffee shops helped hotel and restaurant group Whitbread to offset subdu
Read moreBP settles with another Macondo partner
21st Jun 2011 07:51
BP has tied up another loose end relating to disputes over who should carry the can for the Deepwater Horizon tragedy in the Gulf of Mexico last year by coming to a settlement with US contractor Weatherford. BP and Weatherford have agreed to mutual releases of potential claims against each other, a
Read moreFriday newspaper round-up: Southern Cross, Groupon, Moody's on US
3rd Jun 2011 06:02
The man who made £13m from Southern Cross believes that ministers should let the care home business fail and says that board directors must share blame for the company's plight. In an interview with The Times, Philip Scott, who built the company into the biggest elderly care provider, also accused i
Read moreFTSE 100 movers: Miners rise on metals prices
24th May 2011 15:40
The miners are in demand as precious metals prices continue to ascend. Fresnillo is the highest riser, gaining over 4%. Cairn Energy, Antofagasta, Kazakhmys, Randgold Resources, Xstrata and Rio Tinto are also firmer. Oil groups BG and BP are rising higher, along with crude oil prices. Goldman Sa
Read moreElevator man buys BP shares
24th May 2011 15:36
Non-executive director George David bought more than £800,000 of shares in BP yesterday, the oil giant announced today. He bought 30,000 American Depositary Receipts (ADS), which is equivalent to 180,000 ordinary BP shares. He paid $43.99 each for half of the ADSs and $43.98 for the other half. Da
Read moreTuesday newspaper round-up: eurozone, Sony, IMF
24th May 2011 06:04
Fears that the debt crisis is spreading across the eurozone hammered financial markets around the world yesterday. A wipeout for Spain's Socialists in regional elections over the weekend, coupled with fears of a political logjam in Italy, undermined investor confidence in governments' efforts to ste
Read moreLondon close: Stocks give up gains as Greece worries resurface
20th May 2011 16:49
Stocks gave up their early gains as continuing concerns over the eurozone debt situation - particularly over Greece - put a dampener on sentiment. The ratings agency Fitch cut its rating on the country's debt by three notches to B+, warning of the challenges the country faces in reviving its econom
Read moreFTSE 100 movers: AMEC falls after investor day
20th May 2011 15:37
International engineering and project management company AMEC is the worst performer of the day after an investor event. There is speculation that the group is keen to keep on buying after its recent acquisition of US peer Mactec, limiting the chance of a special dividend, according to reports. BP
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